BackUpdater Services IPO listing date today. What GMP, experts signal about debut of shares
As per the BSE notice, Updater Services IPO listing date has been fixed on 4th October 2023
PremiumUpdater Services IPO: Listing date of Initial Public Offering (IPO) of Updater Services Limited has been fixed on 4th October 2023 i.e. today. As per the BSE notice, "...effective from Wednesday, October 4, 2023, the equity shares of Updater Services Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' group of securities." Updater Services share listing will take place in a special pre-open session at around 9:45 AM whereas Updater Services share price will become available for trade at 10:00 AM during Wednesday deals.
According to stock market experts, Updater Services IPO received tepid response from investors in all category as it has made available at higher valuations. Rest of the damage is expected to take place due to negative sentiments on Dalal Street. They said that Updater Services IPO listing price would be around its upper price band of ₹300 per equity share.
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Updater Services IPO expected listing price
Speaking on Updater Services IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "The public issue received tepid response from investors as it was priced at slightly higher valuations. Apart from this, Indian stock market mood also went down, which went against the public offer. Market mood still remains the same as hence I am expecting flat listing of Updater Services shares."
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Asked about expected listing price of Updater Services shares, Ravi Singhal, CEO at GCL Broking said, "The Subscription demand of the public issue was on the lower side. Overall the IPO got subscribed less than 3 times. Valuations of the issue are also on the higher side. It has a similar business model to Team Lease. The ₹400 crore fresh issue is the only good news in this public issue worth ₹640 crore. The issue may list around ₹300 to ₹310 in this bear hit market."
Updater Services IPO GMP today
According to market observers, shares of Updater Services Limited are not available for trade in grey market. This simply means that unlisted stock market has gone neutral on the public offer. On what does this mean in regard to Updater Services share listing, they said that grey market is also expecting flat listing of Updater Services shares.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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